Athena EA comprises two systems that trade together in the Forex market. One is used to place buy orders, while the other works with sell orders. What’s more, the EAs are supposed to run simultaneously on a number of EURUSD charts using various timeframes. Athena can allegedly make 28% gains monthly with the highest risk settings and 8% profits per month with lower risk settings.
The system was developed by Elite CurrenSea, a company which essentially offers a broad collection of software and tools. In addition, it researches the market and conducts industry commentary and event management. Nenad Kerkez and Chris Svorcik are the original founders of the company, and both claim to be award-winning traders.
Features
Below are the features of the robot:
- No previous experience is needed to work with it.
- A risk management system is available to help you reduce/increase the profitability factor.
- There are no hidden fees, and clear reporting of the system’s performance is provided on Myfxbook.
- Your capital is under your full control as the devs don’t freeze it or prevent you from withdrawing the earnings.
- it comes with an EA installer and set up handouts.
- A free VPS is accessible to all users.
- The minimum recommended leverage is 500:1.
- It is necessary to use a broker that accepts hedging.
- Cent accounts require a minimum deposit of $50. For the renting and PAMM account options, you are advised to use minimum deposits of €4000 and €400, respectively.
How to start trading with Athena EA
The system uses a variety of trading strategies. To begin with, it conducts a technical analysis in the market. This entails studying the movement of price and then making trading decisions based on the findings. Secondly, it employs hedging, a method that basically involves safeguarding open positions against possibly unfavorable movements in the market.
Thirdly, the system works with a grid of orders, and at times, uses scalping to obtain small profits from price movements. Lastly, we have price swings, moving averages, and oscillators that are used to determine when to enter and exit trades.
The vendor offers 3 paid plans for this system. The rental, lifetime, and rental sponsored packages are currently available at €799, €999, and €499, respectively. The managed account offer is free and requires the user to work with a broker supported by the EA. No refund policy is provided.
Backtests
We could not find any backtest data on the sales pitch. The devs admit that Athena cannot be backtested easily, given that it works with 2 systems concurrently. As such, anyone wanting to test it on historical data will have a hard time running the 2 EAs at the same time on multiple charts using dissimilar timeframes.
Verified trading results of Athena EA
Based on the above stats, it is evident that Athena makes a monthly profit of 7.37% for the account. As a result, it has been able to increase the account’s standing by 182.84% within 13+ months of trading. Notably, the profit amount generated so far is €17193.07, while the drawdown is 33.73%.
From the 21,444 trades carried out, we have unimpressive win rates of 69% for long positions and 73% for short ones. The pips won are -11135.7. This is not a good sign as it indicates that the EA has a high losing streak. So, it struggles to make sizable returns from trades, as demonstrated by an average profit factor of 1.65.
Fortunately, the EA’s trading activities have not endangered the viability of this account.
True to the vendor’s claims, the stats above prove that Athena works with grids of orders and attaches a TP to every trade. Sadly, the realized profits are small.
January is, without a doubt, the most lucrative period this year, with 5.77% worth of returns.
Customer reviews
No customer reviews are available for this EA. Probably no traders have applied it to their trading yet.
Is Athena EA a viable option?
Advantages
- Easy to use
- Vendor is disclosed
- Offers free set up handouts
Disadvantages
- Expensive
- No user reviews
- Makes small profits
- No backtest results
Wrapping up
Athena EA is beginner friendly, and the availability of installation handouts ensures traders operate it smoothly. The devs also reveal their identity, which serves to enhance trust in their product. Nevertheless, the system makes small profits. Worse still, the losing streak is substantially higher, and this can lead to a poor risk/ratio.
